Author: NBTC
Rekt Capital, a well-known cryptocurrency analyst and enthusiast, has revealed the potential directions that the price of Bitcoin could take in light of the upcoming fourth BTC Halving. Potential Retracement For Bitcoin With the halving event approaching, analysts are debating what steps Bitcoin should take after its recent breach from the macro downtrend. One of those is Rekt Capital, who has weighed in on the particular issue and made a comparison to past trends. The crypto analyst shared his latest projections during one of his YouTube predictions videos for Bitcoin. In the video, Rekt Capital delves in on the “next…
The economic metaverse is on a steep development trajectory, with gross sales hitting US$ 61.8 billion in 2022 and forecasted to soar at a compound annual development fee (CAGR) of 25.3% from 2023 to 2033. Integrating this expertise into industries resembling automotive manufacturing is powering a brand new wave of innovation, with analysts predicting the Industrial Metaverse Market will develop from US$ 80.1 billion in 2023 to a staggering US$ 765.8 billion by 2033. Reworking Industrial Processes The economic metaverse can speed up how companies design, simulate, and check merchandise. By using digital prototyping, automotive producers can now iterate designs…
Bitcoin dropped below $41,000 in the last 24 hours before making a recovery to rise above that level once again. This has become the current reality of the flagship crypto token’s price, which has continued to decline since the Spot Bitcoin ETFs were approved. This is surprising considering that these funds were projected to help boost Bitcoin’s price upon launch. Why Bitcoin’s Price Could Be Dipping Bloomberg analyst James Seyffart provided insight into what could be the reason for Bitcoin’s declining price as he revealed that Grayscale’s GBTC has experienced an outflow of $2.2 billion since its conversion to a…
NEAR Foundation has announced the merging of NEAR DA and Polygon CDK. The technical integration aims to pass on the benefits of cost-effective data availability to rollups, particularly at a time when data publishing costs are at their highest. NEAR DA has been chosen for its efficiency and robust availability of data. Data availability has been specifically crafted to help developers simplify the network structure and reduce overall cost. Polygon CDK, on the other hand, has been chosen for the level of simplicity that it provides to developers who are looking to architect L2 chains with a set of configurations…
Bitcoin has recently dropped to its one-month low after the ETF-led enthusiasm has waned. The biggest crypto in the world fluctuated around 40,000 dollars before stopping at 40,843 dollars. BTC gained 157% value in 2023, largely because of the anticipated January 11 launch of the first Bitcoin ETF fund in the US. Traders have also bet on the looser monetary policy in the past several months. However, it appears that the ETF enthusiasm driving BTC has ultimately subsided. The cryptocurrency is trading at 41,358 dollars, down 10.42% in the past seven days. Given its volatile nature, traders closely examine numerous…
The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Since the year-to-date high of $49,000 on January 11, the BTC price has dropped by as much as 17%. However, according to renowned crypto analyst Jacob Canfield, this may not be the end of the correction. In a recent analysis, Canfield warned that more downside could be on the cards in the short-term. The analyst, known for accurately predicting the local top of Bitcoin, addressed the prevailing uncertainty in the market. “The question that everyone is asking now is ‘where…
Spot Bitcoin ETF applications have seen the light at the end of the tunnel in the US. The US SEC gave a green light last week, paving the way for ETFs of other crypto tokens. Talks are buzzing around town that Ether ETF could be the next offering, triggering the likes of BlackRock to make a move. Now, it is South Korea that has come forward with a message for financial regulators, seeking authorities to consider approving Spot Bitcoin ETF in the region. If granted approval, its functionalities will be virtually identical to those of the product on American soil.…
Renowned macroeconomist Henrik Zeberg has set the financial world abuzz with a stark prognosis on X (formerly Twitter), forecasting a dramatic surge in the Bitcoin price to a peak of $115,000 to $150,000. However, this meteoric rise is predicted to find an abrupt end, caused by a devastating macroeconomic downturn, one that Zeberg anticipates will be the most severe since the 1929 crash. Why A Recession Will Hit The US In 2024/2025 At the core of Zeberg’s argument are seven reasons. Zeberg asserts, “Our Business Cycle has flashed a recession signal in 2023. Leading Indicators have crashed under our Equilibrium…
By introducing native ETH and wstETH transfer software onto the platform, Wormhole has altered the ETH and wstETH movement pattern across numerous EVM-oriented networks. This will facilitate the achievement of increased liquidity and cost-effectiveness. Built on top of Uniswap v3, this new feature is going to revolutionize the transfer of ETH and wstETH across different EVM-based networks, making it more efficient and liquid than ever before. On the destination chain, there are gas-free transfers. It is exceptionally intuitive to use. Each blockchain includes a single xETH/wETH pool that facilitates transactions between wrapped (local) ether and xETH (wormhole ether). As the…
Bitcoin mining hashrate is down by 25%. This comes in the wake of Texas curtailing the usage of businesses. The Texas grid regulator has requested a more conservative approach in response to ERCOT’s message. ERCOT, short for Electric Reliability Council of Texas, recently issued a warning that the operating reserves could be on the lower side. That is because of high demand and continued freezing temperatures. Also, ERCOT has said that there could be unseasonably low wind. The request also extends to common residents, provided it is safe to do so. Reports surfacing after the warning by the Council highlight…